- Setting a New Benchmark for Used Car Retail in Northwest China -
BEIJING, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading e-commerce platform for buying and selling used cars in China, today announced it had completed the relocation and upgrade of its Xi’an Inspection and Reconditioning Center (“IRC”) as well as its used car superstore. The upgraded IRC and superstore reopened for business as the largest fully self-owned used car marketplace in Northwest China with a showroom capacity of up to 3,000 vehicles to meet the used car consumption demand in the city of Xi’an and its surrounding areas.
The new Xi’an IRC is the benchmark representation of Uxin's business philosophy of driving the transformation of China's used car industry through advanced manufacturing, new retail experience, and digital empowerment.
The upgrade expanded the IRC’s total floor area to 150,000 square meters and is comprised of a used car reconditioning factory as well as a warehouse-style superstore. Powered by industry-leading equipment and advanced reconditioning techniques, the reconditioning factory has an annual capacity of 40,000 units to ensure that Uxin has a large-scale supply of high-quality used cars.
The warehouse-style superstore expanded its showroom capacity from 600 vehicles previously to 3,000 vehicles to offer an extensive selection of used cars to our customers. In addition, the IRC houses an integrated customer service center and brought in a branch of the Vehicle Administration Office on site. As such, customers have access to auto financing, insurance, extended warranty, accessories upgrade, as well as title transfer and registration services on the same day they purchase their vehicles for a comprehensive and efficient one-stop used car buying experience.
The new IRC operates under digitized systems and standardized processes, from vehicle acquisition to reconditioning and sales. The digitized processes significantly improve the IRC’s operation efficiency. It is a demonstration of Uxin’s comprehensive capabilities in effectively operating used car businesses at a super large scale.
Mr. Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin, commented, “The upgrade of our Xi’an IRC is a major business milestone in 2022 and the embodiment of the innovative business model built from our eleven years’ deep understanding of China’s used car industry. While the advanced factory further secures the stable supply of high-quality vehicles, our warehouse-style superstore with fully self-owned vehicle inventories offers consumers an all-round, upgraded car buying experience. Going forward, with the further implementation of industry-boosting policies in the next year, we will continue to focus on the business growth of our IRCs, and lead the transformation of China's used car industry.”
For more information, please visit us at https://ir.xin.com/ or find us on Twitter @UxinLimited.
About Uxin
Uxin is a leading e-commerce platform for buying and selling used cars in China. We offer high-quality and value-for-money vehicles as well as superior before-and-after sales services through a reliable, one-stop, and hassle-free transaction experience. Under our omni-channel strategy, we are able to leverage our pioneering online platform to serve customers nationwide and establish market leadership in select regions through offline inspection and reconditioning centers. Leveraging our extensive industry data and continuous technology innovation throughout more than ten years of operation, we have established strong used car management and operation capabilities. We are committed to upholding our customer-centric approach and driving the healthy development of the used car industry.
For investor and media enquiries, please contact:
Uxin Limited Investor Relations
Email: ir@xin.com
The Blueshirt Group
Jack Wang
Phone: +86 166-0115-0429
Email: Jack@blueshirtgroup.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b239a97c-f16e-4fa3-af68-551ae9f2de89
https://www.globenewswire.com/NewsRoom/AttachmentNg/9f6b20a6-a831-41a2-aace-50cda493050e
https://www.globenewswire.com/NewsRoom/AttachmentNg/2a22f151-a82c-44c8-8134-99a35e9375f4
